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Doesn’t change things massively however puts things out in the open which is what the market likes to see. Even if the SB option position was pretty much ‘a given’ having it explicitly stated is a positive and the same goes for confirmation on the separation.
Keep it simple and make sure the market has clarity and you’ll start to see a rerate.
I suspect both parties wanted out of the agreement. SoftBank were clearly not going to take up the option and I expect MM didn’t want to renegotiate.
Keep things simple and market may change sentiment.
If you’re an organisation looking to seriously spend millions on security, are you going to go to a tin pot family firm even if they have a queens award and a charitable organisation that gives away 50 quid a year ?
It depends if they can limp along on Lunghi and Tema revenues, plus the odd crumbs they manage to pick up, until something more substantial comes along they can use as a carrot to get another placing away. Or will one of the contracts signed last year eventually get ratified and start to generate revenue - even then that might need additional funds.
At present there seemingly isn’t anything we know about even just a bit that could be used to whet the appetite or prospective placees so it’s either eek out the current financials for as long as possible or death spiral financing as a last resort. That will be the end of things if they go down that route.
The thing is, when it comes to get a placing away he’ll start singing like a canary, doing the cheesy interviews with his smug, smirking demeanour whilst lying through his teeth. Once he gets the money it’s back to the bunker and radio silence whilst he works out how long the funds will keep his family for.
There will either be a ruinous finance arrangement to keep this limping along or I can see there being some issue that will cause the nomad to walk, at which point it’ll get suspended and then eventually booted off AIM. Struggling to see positives and the fact that Fooler has stopped communicating , especially at AGM time, is a worry.
Maybe there’ll be a trading update in the morning but, if not, it’s disgusting that there’s been no information provided.
He’s going to have to break his silence this afternoon though and fess up on how things are going. Even for Fooler it’s going to be pretty difficult to put a positive spin in the usual ‘jam tomorrow’ way. No doubt he’s still confident of 2022 revenue being met and optimistic for the rest of the year , but he’ll be in a minority of one.